Waaree Renewable Q2 profit more than doubles to Rs 116 cr

New Delhi: Waaree Renewable Technologies' consolidated net profit in September quarter more than doubled to Rs 116.34 crore on the back of higher revenues.

The company had logged a consolidated net profit of Rs 53.51 crore in the quarter ended September 30, 2024, a BSE filing said.

According to a company statement, the company recorded its highest-ever quarterly revenue and PAT (net profit), driven by robust execution, strong sectoral tailwinds, and continued expansion into new energy verticals including Battery Energy Storage Systems and data centres.

The revenue stood at Rs 774.78 crore as against Rs 524.47 crore in Q2 FY25, delivering a growth of 47.73 per cent.

The company’s unexecuted order book stands at 3.48 GWp, to be executed over the next 12–15 months, while its bidding pipeline remains robust at 27+ GWp, it stated.

The board on Friday approved capex budget for setting up 28 MWp IPP solar power plants (14 MWp each) at two locations in Maharashtra.

The board also approved capex budget for 37.5 MWp IPP solar power plant at Bikaner, Rajasthan.

As a subsidiary of Waaree Energies Ltd, Waaree Renewable finances, constructs, owns, and operates solar projects across geographies for commercial and industrial customers, supporting India’s transition to sustainable energy.